Epiroc Ab Class A · OMXSTO:EPI_A
Epiroc Ab Class A — Q1 2026 Earnings Presentation
32 slides from Epiroc Ab Class A's earnings presentation, Apr 29, 2026
Slide 1: Q1 2026 Earnings Presentation
Q1 2026 April 29, 2026 Helena Hedblom, President and CEO Håkan Folin, CFO Karin Larsson, VP IR & Media
Slide 2: Highlights Q1 2026
Highlights Q1 2026 • Strong start, +23% organic order growth • Record high orders received of MSEK 18 340 (16 586), +11% • Strong mining • Organic equipment growth +44% • Organic service growth +12% • Strong demand for exploration and tools • Somewhat improving demand in infrastructure and construct
Slide 3: Group orders received: High mining demand
Group orders received: High mining demand • Orders received +11% • Strong mining demand • -12% currency • MSEK 18 340 (16 586) • Organic equipment growth +44% • +23% organic • MSEK 1 280 (280) in large orders* Orders received Organic growth Orders received bridge +17% organic +11% 18 340 23 16 586 -
Slide 4: Innovation
Innovation • Automation momentum accelerated • Strong demand for autonomous surface drilling • Award-winning solution • LinkOA, Epiroc’s mixed-fleet automation solution named Engineering Product of the Year 2026 • Safety and efficiency upgrades • “Uphole Brake” improves safety in deeper and more tec
Slide 5: FILM: Minetruck MT66 S eDrive
FILM: Minetruck MT66 S eDrive 1m52s Q4 2025 5
Slide 6: Aftermarket
Aftermarket • Strong demand driven by mining • Aftermarket revenues 69% (67) • Agreement to acquire Eventspec • Service orders +12% organically to strengthen service offering in • Service revenues +3% organically South Africa • Strong mid-life upgrades • T&A revenues +5% organically Service Tools &
Slide 7: Operational excellence
Operational excellence • Efficiency measures gaining traction • Organic EBIT contribution of MSEK 138, +0.5 percentage points, despite headwinds • Margin progress gradual, structural and sustainable • Cost discipline and improved workshop efficiency, particularly within Equipment & Service • Mitigat
Slide 8: Group revenues and operating profit
Group revenues and operating profit Revenues -8%, MSEK 14 351, +2% organic Adjusted EBIT -7%, MSEK 2 868 (3 099) • 69% aftermarket (67) • Organic: Increased efficiency more than offset tariffs and EBIT -8%, MSEK 2 846 (3 088) increased input costs for tungsten • Currency: Negative • IAC* -22 (-11),
Slide 9: Equipment & Service: Orders received
Equipment & Service: Orders received • Orders received +15% • Strong mining, incl. exploration • -12% currency • MSEK 14 230 (12 377) • Large orders of MSEK 1 280 (280) • +27% organic growth • +44% for equipment • +12% for service Orders received +17% organic Organic growth Orders received bridge +1
Slide 10: Equipment & Service: Revenues and operating profit
Equipment & Service: Revenues and operating profit Revenues -8%, MSEK 10 776, +2% organic Adjusted EBIT -5%, MSEK 2 584 (2 724) • 42% equipment (43), -1% organic • Organic: Cost efficiency and mix • 58% service (57), +3% organic • Currency: Negative EBIT -5%, MSEK 2 584 (2 724) Adjusted margin 24.0%
Slide 11: Tools & Attachments: Orders received
Tools & Attachments: Orders received • Orders received -2% • High mining activity • +9% organic growth • MSEK 4 099 (4 187) • Initial recovery in the demand for • -11% currency attachments used in construction Orders received Organic growth Orders received bridge +16% organic -2% 9 4 187 4 099 8 3 9
Slide 12: Tools & Attachments: Revenues and operating profit
Tools & Attachments: Revenues and operating profit Revenues -6%, MSEK 3 564, +5% organic Adjusted EBIT -12%, MSEK 404 (461) • Currency -11% • Organic: Increased efficiency offset input costs for EBIT -12%, MSEK 404 (461) tungsten and tariffs • Currency: Negative Operating margin 11.3% (12.1) Adjuste
Slide 13: Costs, net financials and tax
Costs, net financials and tax • Costs lower Administration, marketing and R&D expenses • Admin and marketing costs lower both year on year and sequentially -8% 2 746 2 742 2 714 2 648 2 565 • Net financial items MSEK -84 (-207) 2 411 2 552 2 447 2 496 • Net interest MSEK -151 (-187) 17.0 16.6 17.5 1
Slide 14: Operating cash flow
Operating cash flow Operating cash flow and cash conversion rate, % • Operating cash flow MSEK 1 300 (1 569) • Lower profit • Net financial items 3 956 104 105 100 • Cash conversion rate 88% (100) 94 90 88 90 88 83 2 577 2 476 1 778 1 789 1 609 1 569 1 300 1 104 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q4
Slide 15: Net working capital
Net working capital • Net working capital +3% Net working capital Working capital to MSEK 23 484 (22 729) • Higher inventories after a period 23 484 23 520 of strong equipment growth 22 729 36.7 36.9 37.4 Inventories • 37.4% (36.9) of revenues +2 303 20 592 18 273 20 576 23 520 22 729 23 484 Receiva
Slide 16: Capital efficiency
Capital efficiency • Net debt MSEK 10 496 (12 317) Net debt and Net debt/EBITDA Capital employed and ROCE • Net debt/EBITDA 0.71 (0.76) 64 008 65 947 60 896 • ROCE 18.5% (20.3) • Lower operating profit 0.76 0.71 0.39 12 317 24.5 10 496 20.3 18.5 6 076 Q124 Q125 Q126 Q124 Q125 Q126 Net debt/EBITDA ra
Slide 17: Dividend
Dividend* • Proposed ordinary dividend to Dividend and payout ratio shareholders of SEK 3.80 (3.80) per share 6 53 53 55 51 • MSEK 4 594 (4 594) 5 49 49 50 • Two equal installments with 45 4 3.80 3.80 3.80 record dates May 7 and 3.40 40 October 19, 2026 3.00 3 35 2 30 1 25 0 20 2021 2022 2023 2024 2
Slide 18: Summary
Summary Demand in Q1 • Record high orders received of MSEK 18 340 (16 586), +11% • +23% organic order growth • Strong mining • Somewhat improving demand in infrastructure and construction Looking ahead • In the near term, we expect mining demand to remain high, while demand from construction custome
Slide 19: Capital Markets Day 2026 June 8-9 in Örebro, Sweden
Registration open! Capital Markets Day 2026 June 8-9 in Örebro, Sweden https://www.epirocgroup.com/en/cmd2026 FYI: Volvo AB hosts its CMD on June 10 in Eskilstuna, Sweden. Q4 2025 19
Slide 20: Q&A
Q&A ir@epiroc.com Q1 2025 20
Slide 21: Eager to know more about Epiroc?
Eager to know more about Epiroc? Useful links • Financial publications incl. Key figures and pre-results mail • Calendar • Annual and Sustainability Report • CMD Karin Larsson Alexander Apell Gustaf Bratt VP IR & Media IRO IR Coordinator +46 10 755 0106 +46 10 755 0719 +46 76 163 8700 ir@epiroc.com
Slide 22: Appendix
Appendix Q1 2025 22
Slide 23: Leading productivity and sustainability partner with roots from 1873
Leading productivity and sustainability partner with roots from 1873 Orders received Orders received* Revenues in 64 728 ~150 countries 62 213 62 974 58 899 Europe ~ 19 000 North America 13% 53 222 employees 29% 45 648 39 400 39 492 Adj. EBIT margin* 36 579 19.6% Africa/ Asia / Australia Middle East
Slide 24: Our strategy is our investment case
Our strategy is our investment case We accelerate the productivity We have a high proportion We have a well-proven and sustainability transformation of recurring business business model in our industry Operational Operational Attractive niches Innovation Aftermarket Outperformance excellence excelle
Slide 25: Commitment to long-term delivery
Commitment to long-term delivery History of translating orders into EPS and cash growth Orders +64% Revenues +53% EBIT +50% Adj. EBIT +46% Basic EPS +48% Operating cash flow +102% +64% +53% +50% +46% +48% +102% 64 728 60 813 11 683 11 894 7.04 7 457 39 837 7 800 8 158 4.76 39 427 3 690 7% 6% 6% 6% 6
Slide 26: Financial goals at a glance
Financial goals at a glance Goals Description Q1 2026 2025 2016-2025 Growth Annual revenue growth of 8% over a business cycle. -8% -3% 8% p.a. Industry-best operating margin, with strong 19.8% 19.2% 20.% Profitability (EBIT) resilience over the cycle. Adj. 20.0% Adj. 19.6% Adj. 20.8% Improve capital
Slide 27: 2030 goals for people and planet
2030 goals for people and planet • No work-related injuries • Balanced workforce and double the number of women in operational roles • Have all employees and business partners comply with our Code of Conduct and Responsible Sales Assessment Process implemented • Halve CO2e emissions in operations* •
Slide 28: Sustainability: People & Planet
Sustainability: People & Planet • Increased safety • Total recordable injury frequency rate decreased to 3.9 (4.3) • 19 086 (19 042) employees • Women employees 20.5% (20.0) • Women managers 25.2% (24.5) • CO2e emissions from operations and company vehicles* -9% to 46 197 (50 759) tonnes • Renewable
Slide 29: Debt information and maturity profile
Debt information and maturity profile Maturity profile (MSEK) • Net debt/EBITDA: 0.71x 9 487 • S&P rating: BBB+ Stable outlook • External financing: BSEK 16.3 4 000 • 85% long term financing • 51% green or sustainability linked • 3.7 years average tenor (long-term) • Average interest duration: 15 mo
Slide 30: The profit bridge currency effect
The profit bridge currency effect What you see in What you get in our Impact The details you our report key figures Q126 cannot see… Income statement effect 1a. Translation converting subsidiaries to SEK 1. Translation MSEK -709 Income statement effect from balance sheet 1b. Internal profit Total op
Slide 31: United. Inspired.
United. Inspired. Performance unites us, innovation inspires us, and commitment drives us to keep moving forward. Count on Epiroc to deliver the solutions you need to succeed today and the technology to lead tomorrow. epiroc.com
Slide 32: Disclaimer
Disclaimer - Some statements in this presentation, or in conclusion to it, are forward-looking and the actual outcome may be different. In addition to the factors explicitly commented upon, the actual outcome may be affected by other factors such as macroeconomic conditions, movements in foreign exc